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Sereny was born in Vienna, Austria in 1921. Her father was a Hungarian Protestant aristocrat, Ferdinand Serény, who died when she was two. Her mother was a former actress from Hamburg, Margit Herzfeld, of German background.[2] Her stepfather was the economist Ludwig von Mises.[3]

She attended the Nuremberg Trials for four days in 1945 as an observer and it was here that she first saw Albert Speer about whom she would later write the book Albert Speer: His Battle with Truth. It was for this book that she was awarded the 1995 James Tait Black Memorial Prize. The book was also later adapted by David Edgar as the play Albert Speer and directed by Trevor Nunn at the National Theatre in 2000.[6] The book even won the admiration of David Irving (see below), who wrote, "Minor flaws aside (I sent her eight pages of errors from prison), her biography of Albert Speer was brilliant. It was sent to me in that Austrian prison, and I could not put it down."[7]

From the mid-sixties and throughout the 1970s she wrote extensively for The Daily Telegraph Magazine under the editorship of John Anstey. These articles were often about young people, the social services, children and their relationships with their parents and society. This led to her covering the trial of eleven-year-old Mary Bell (found guilty of murdering two children) and would further lead to her first investigative book on this case.

The Case of Mary Bell was first published in 1972 following Mary Bell's trial; in it Sereny interviewed her family, friends and the professionals involved in looking after Mary during her trial. This book was edited by Diana Athill who would also edit Sereny's Into That Darkness.

Into That Darkness (also following an initial article for the Telegraph magazine) was an examination of the guilt of Franz Stangl, the commandant of the Treblinka and Sobibor extermination camps.[9] She spent 60 hours interviewing him in prison for the article and when she had finished he finally admitted his guilt; he died of a heart attack nineteen hours later.

Albert Speer: His Battle with Truth (1995) is a biographical work on Albert Speer, German minister of Armaments during World War II. In it, Sereny explores how much Speer knew about the Holocaust. During the Nuremberg trials, Speer had avoided a death sentence, claiming all the while that he knew nothing of the Holocaust. However, Sereny concludes that Speer must have known based on a letter he wrote to the Jewish community in South Africa (after the war), and the fact that his closest assistant attended the Wannsee Conference (where the details of the genocide of the Jews were worked out) who could not have failed to inform him about the proceedings.

In 1998, she was embroiled in a controversy in the British press when her second book on Mary Bell, Cries Unheard[10] was published and she announced that she was sharing the publishing fee, from MacMillan Publishers, with Mary Bell for collaborating on the book. Sereny was initially criticized in the British press and by the British government, though the book quickly became, and remains, a standard text for professionals working with problem children.

Sereny wrote of her final book, The German Trauma (2002): "The nineteen chapters in this book, all intimately concerned with Germany before, during and since the end of the Third Reich, describe more or less sequentially what I saw and learned from 1938 to 1999, thus almost over a lifetime."[11]

British writer David Irving initiated a libel case against Sereny and the Guardian Media Group for two reviews in The Observer where she asserted he deliberately falsified the historical record in an attempt to rehabilitate the Nazis. Irving maintained a personal animosity for Sereny, whom he calls "that shriveled Nazi hunter", for successfully refuting his claims since the publication of his book Hitler's War. When, in 1977, Sereny cross-checked the source he cited for his assertion that Hitler knew nothing about the Final Solution, and therefore could not have ordered it, she found he had excised a caveat which would have contradicted his claim. "I know many of the same people as he does who were of Hitler's circle," Sereny said. "That is scary for him. He says we jostle at the same trough. The difference is that he loves that trough, and I don't... There is, I think, [for him] despair in all of this." Although the case did not go to court, the cost to the Guardian Media Group of preparing its legal defence amounted to £800,000.[12]